DECA

Many customers second-guess their purchasing decisions during which stage of purchasing? A. During-purchase B. Pre-purchase C. Post-purchase D. Before the need for a product is identified (question 100, SE)

C Post-purchase. It is common for customers to question their purchasing decisions after they purchase goods. Most consumers do not second-guess their decisions before the need for a product is identified or during the pre-purchase and during-purchase stages because they have not yet purchased the good. SOURC

Harold is the Chief Operations Officer of a bottled water company. The FDA just issued a press release stating that the company's bottled water product is contaminated. Which department should Harold turn to in order to handle this situation? A. Product development B. Human resources C. Public relations D. Market research (question 92, PR)

C Public relations. One of the responsibilities of the public relations department is to handle crisis communications. Human resources deals with planning, staffing, leading, and organizing employees of a business. Product development is concerned with the creation of a new product. Market research is the systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern that affects a market.

A good way to prioritize your financial goals is to A. rank every goal in numerical order. B. rank goals according to what needs to be done first. C. assign each goal to a general category. D. recognize that all the goals are equally important. (question 38, FI)

C. Assign each goal to a general category. A good way to prioritize your financial goals is to assign each goal to a general category, such as "must do," "important but not critical," or "not so important." Ranking according to what needs to be done first and ranking every goal in numerical order are two common pitfalls. Another pitfall is ranking everything as very important or thinking that all the goals are equally important.

One of the freedoms provided to individuals by the private enterprise system is the freedom to choose A. which taxes they will pay. B. how their employers pay them. C. where they will work. D. which laws they will obey. (question 21, EC)

C. Where they will work. U.S. citizens are free to choose the kind of work they would like to do in order to make a living. They are limited by their own interests, abilities, and training. They are not, however, free to choose which taxes to pay, which laws to obey, or how their employers pay them (e.g., weekly or monthly).

Computer-aided manufacturing (CAM) (question 55, OP)

CAM is a process in which computers are used to collect and store data and to instruct automated manufacturing equipment in the production process

CAN-SPAM (question 35, IM)

CAN-SPAM is a U.S. law that sets rules and establishes standards for commercial email.

Chapter 7 Bankruptcy (queestion 1, BL)

Chapter 7 bankruptcy involves liquidating the business and selling the assets in order to pay creditors a portion of what the business owes them. The end result of Chapter 7 bankruptcy is that the business is released from debts, but all the assets have been liquidated and the business no longer exists

Collectivists Cultures (question 23, EI)

Collectivist cultures are geared toward group accomplishments.

Which of the following is a true statement about the growth stage of the product life cycle: A. Sales increase very slowly. B. Costs go up. C. It's the longest-lasting stage of the pro D. Competitors arrive on the scene. (question 76, PM)

Competitors arrive on the scene. The growth stage of the product life cycle is when competitors arrive on the scene. When a product is selling and making money, other companies want to get in on the action! Costs tend to go down during the growth stage, due to economies of scale. The growth stage is also the stage when sales increase very

Concurrent Engineering (question 70, OP)

Concurrent engineering is a quality-control method in which product design and development are performed simultaneously. This saves time and allows potential problems or flaws to be caught earlier in the process.

Marketers use sampling when A. the timeframe is flexible. B. making a wrong decision is too risky. C. conducting a census is impossible or unrealistic. D. the population is very small. (question 42, IM)

Conducting a census is impossible or unrealistic. Marketers use sampling when conducting a census is impossible or unrealistic, which is most of the time. Sampling is also much quicker than a census, making it ideal when the timeframe for the research study is short. A census can be used when making a wrong decision is too risky or when the population is very small.

Content Marketing (question 77, PM)

Content marketing is the creation and distribution of content to attract customer engagement.

Revising (question 11, CO)

. Revising comes before editing and involves making bigger changes, such as rearranging or removing whole sections of writing.

Contraction Product-Mix (question 76, PM)

Contraction means removing product items or lines from the product mix. A business might decide to delete a product from its mix because its production has become a problem.

Cross-Linking (question 77, PM)

Cross-linking is a method of adding links on your website to other websites with similar content or interests.

Cynical unemployment (question 20 EC)

Cyclical unemployment occurs during periods of time when there is low demand for workers due to economic conditions and fluctuations in the business cycle

Cynical Unemployment (question 19, EC)

Cyclical unemployment rises and falls with ups and downs in the business cycle.

Pareto (question 70, OP)

A Pareto chart is a type of bar graph that helps identify which problems need to be addressed first.

Brand Promise (question 81, PM)

A brand promise is a business's spoken or unspoken agreement with customers that it will consistently meet their expectations and deliver on its brand characteristics and values.

Budget Credit Account (question 31, FI)

A budget credit account is a form of short-term credit often set up for 60- or 90-day periods with a payment due every 30 days.

Full Line Enforcing (question 5, CM)

A business is engaging in full-line forcing when it requires its intermediaries to carry an entire line of its products (e.g., computer printers) that they may not want, so the intermediaries can get the one item or a few of the items that they do want (e.g., laptop computers). Many businesses consider this practice unethical, and it is an illegal activity in many jurisdictions if it hinders competition.

Corporation (question 2, BL)

A corporation, which is owned by its stockholders, limits the losses or risks to the amount each individual owner has invested in the corporation.

Franchise (question 2, BL)

A franchise is a contractual agreement between a parent company and a franchisee to distribute goods and services.

Gray-Market (question 5, CM)

A gray market involves the buying and selling of brand goods through unauthorized channels.

Horizontal Conflict (question 7, CM)

A horizontal conflict is a disagreement between channel members at the same level within the channel.

Multichannel Conflict (question 7, CM)

A multichannel conflict is a disagreement among members of multiple channels.

Partnership (question 2, BL)

A partnership usually divides the risk among two or three partners.

Planogram (question 71, PM)

A planogram is a computer-developed diagram that instructs retailers on how to display products. This is not referred to as a product diagram.

Rebate (question 88, PR)

A rebate is a sales promotion in which part of the price a customer pays for a good is given back to the customer. Usually rebates require customers to mail proof-of-purchase to receive their money back

Retailer (question 5, CM)

A retailer is a business that buys consumer goods or services and sells them to ultimate consumers.

Sequential Database (question 48, IM)

A sequential database organizes information in a simple path from one factor to the next.

Tax liabilty (question 28, FI)

A tax liability is tax that a person or business must pay the government

Technical data management system (TDMS) (question 55, OP)

A technical data management system (TDMS) is a document management system dealing with technical/ engineering documents.

Tort (question 5, BL)

A tort is a private wrongdoing that potentially harms another person or entity. If a business or one of its employees breaches the duty of care, the business may be held liable for the tort.

Vertical Conflict (question 7, CM)

A vertical conflict involves a disagreement between two channel members of different levels. A conflict between a supplier and a retailer, for example, constitutes a vertical conflict.

Wholesaler (question 3, CM)

A wholesaler is an intermediary who helps to move goods between producers and retailers by buying goods from producers and selling them to retailers (e.g., specialty shops)

Caitlin has three credit cards. She receives her credit card statement for one of the cards and has to decide how to pay the $500 she spent with that card. To pay the least for use of the credit, she should pay with __________ and make the __________ payment. A. cash; full B. cash; minimum C. another card; full D. another card; minimum (question 39, FI)

A: Cash; full. Paying the statement in full will assure that she does not have to pay extra interest on the balance and will help improve her credit history. Paying in cash is better for her credit history's health than paying with another card, because eventually she will have to pay the money owed on the other card. Paying for one card with another can lead to a downward spiral of credit card debt.

Affective Culture (question 18, EC)

Affective cultures are those that readily show emotions.

Agent (question 3, CM)

Agents are intermediaries who assist in the sale and/or promotion of goods and services but do not take title to them.

Agent (question 3, CM)

Agents perform many functions for producers, such as selling, storing, grading, etc., without actually taking title to the goods they handle.

Alteration Product-Mix (question 76, PM)

Alteration involves making changes in the company's products or lines.

Affinity Partnership (question 8, CM)

An affinity partnership is a partnership between two companies that is beneficial for each.

Electronic data interchange (EDI) (question 55, OP)

An electronic data interchange (EDI) is used to send information from one company to another electronically.

Industrial User (question 3, CM)

An industrial user is a business that buys materials, services, or goods, which it uses to make other goods or uses for company operations.

Attrition (question 84, PM)

Attrition is a natural reduction in numbers of people due to death, retirement, job changes, etc.

Jeremy's Nutrition Company brands its new J-Bar protein bar with a logo, tagline, and color scheme. What is the final stage of brand loyalty that new products like the J-Bar strive to reach? A. Brand recognition B. Brand awareness C. Brand preference D. Brand insistence (question 79, PM)

D Brand insistence. Brand insistence is the final stage of brand loyalty in which consumers insist upon buying a specific brand. Brand awareness is one of the first stages of branding and is the extent to which customers or potential customers are familiar with a brand. Brand preference comes before insistence and is the stage of brand loyalty in which consumers prefer to purchase a certain brand but will accept substitutes if the brand is not available. Brand recognition is the stage of brand loyalty in which consumers are made aware of a brand's existence.

Which area of promotion will pricing affect? A. Choice of transportation channels B. Advertising budget C. Where the product is offered D. Materials used in production (question 77, PI)

B Advertising budget. Companies that sell low-priced items will not have as large an advertising budget as companies with higher priced items. Place decisions, including consideration of transportation channels and market location, as well as product decisions, such as selection of production materials, are not areas of promotion.

Which advertising medium offers the advantage of locating the promotional message near the point of purchase? A. Newspapers B. Billboards C. Television D. Direct mail (question 92, PR)

B Billboards. Billboards are a form of outdoor media. They are often located on the business's property or quite close to it. Other advantages of outdoor media include their ability to reach people who are on the move, low cost per exposure, high repeat exposure, and flexibility. Television, newspapers, and direct mail can provide consumers with the same promotional message, but the message may be seen or heard at some distance from the business that is being promoted.

Which of the following is a reason why the ethical and legal issues involved in selling activities are extremely important: A. Sellers must understand how to criticize competitors. B. Buyers avoid doing business with unethical salespeople. C. Sales staff must know when they can legally bend the truth. D. Sales managers are not responsible for what the sales staff does. (question 96, SE)

B Buyers avoid doing business with unethical salespeople. Unethical salespeople often lose customers and create a negative image of their company. Making erroneous statements about competitors or bending the truth to make a sale are typical examples of unethical sales practices. Sales managers must monitor the practices of their sales staff because they are ultimately responsible for the actions and claims of their staff.

A basic reason for the formation of a trade association is to A. provide information for consumers. B. find solutions for common problems. C. promote goodwill for an industry. D. establish a long-term group. (question 75, PD)

B Find solutions for common problems. A trade association's members can collectively find solutions to common problems that they might have difficulty handling as individuals. The members also can share their knowledge and work together to increase the profitability of all members' businesses. Trade associations are formed and disbanded according to the changing needs of the members. Some trade associations may promote goodwill or educate consumers, but those are not basic purposes of their formation.

A national fast food chain test markets its new sandwich in a few cities to gather data about its sales potential. Which type of marketing research is this? A. Descriptive B. Causal C. Exploratory D. Statistical (question 39, IM)

B Causal. Marketing research that focuses on cause and effect and tests "what if?" theories is called causal research. Causal research is typically completed by conducting experiments or simulations, which must be carefully designed and tightly controlled. This type of research is often very expensive. Examples of causal research include test marketing, allowing customers to shop in a simulated store and recording their actions, and conducting a clinical trial for a new medication. Exploratory research collects information to help the business define its issue, situation, or concern and decide the direction in which to go to address it. Descriptive research (also referred to as statistical research) gathers specific information related to an identified issue, situation, or concern.

Which of the following phrases is most likely to be listed in an official job description: A. "Have 10-15 years' experience" B. "Edit company newsletter" C. "Able to work closely with others" D. "Possess an associate's degree or higher" (question 32, HR)

B. "Edit company newsletter." Editing the company newsletter is a task that would be listed in an official job description. A job description is an explanation of the specific responsibilities associated with a certain job. A job specification, on the other hand, is an explanation of the skills, knowledge, and characteristics required for a job. Having 10-15 years of experience, being able to work closely with others, and possessing an associate's degree or higher are all examples of what might be listed in a job specification.

How can a business build its customers' trust and communicate its commitment to ethical practices? A. Develop liberal business policies B. Publish its confidentiality statement C. Hire employees who have a positive attitude D. Post its earnings on its website (question 17, CR)

B. Publish its confidentiality statement. A business can build its customers' trust by communicating that it will not share its customers' confidential information with third parties and that it will take measures to secure online transactions. One way to communicate this commitment is by publishing its confidentiality statement in company brochures, in email messages, and on its website. Developing liberal business policies, hiring employees who have a positive attitude and posting its earnings on its website may help build trust with customers; however, these actions do not communicate the business's commitment to adhering to its ethics.

Which of the following is a decision a company might make during the decline stage of the product life cycle: A. How to increase awareness of the product B. Whether to change the product C. How to fend off the competition D. What production schedule to follow (question 79, PM)

B. Whether to change the product. Whether to change the product is one of the choices that needs to be made during the decline stage. During this stage in the product life cycle, the producer also has to decide whether to sell or license the product, recommit to the product line, discount the product, or regionalize the product.

Bait-and-Switch Advertising (question 96, SE)

Bait-and-switch advertising involves promoting a low-priced item to attract customers to whom the business then tries to sell a higher priced item. Bait-and-switch advertising is illegal under U.S. law and in many other countries.

Batch production process (question 65, OP)

Batch production processes are used to produce limited quantities of a product at one time.

Brand Cues (question 81, PM)

Brand cues are simple reminders of a brand's identity and values, and are usually directed at employees.

Brand Evangelist (question 87, PR)

Brand evangelists are loyal customers that act as unofficial brand ambassadors to their friends and family members by recommending and endorsing the brand's products.

Brand preference (question 87, PM)

Brand preference is the stage of brand loyalty in which consumers prefer to purchase a certain brand but will accept substitutes if the brand is not available.

Brand Values (question 81, PM)

Brand values are beliefs or qualities that a corporate brand stands for and is built around.

Scanner fraud (question 77, PI)

Businesses occasionally make honest pricing mistakes. An employee may forget to key in the sale price of an item or key it incorrectly into the computer system. When this happens the customer is charged an incorrect amount for the item when it is scanned at the checkout counter. On the other hand, scanner fraud is a deliberate action that involves overcharging customers, usually for smaller goods, with the expectation the customer will not notice or fuss about it. This is unethical behavior because the business is acting in a deceptive, intentional way to pad the business's bottom line.

Revolving Credit Account (question 31, FI)

Businesses that offer revolving credit accounts limit the total amount of money that a customer may charge an account. When customers use their credit cards and make purchases on their accounts, businesses require them to make a minimal monthly payment. If a customer chooses to make the minimal payment, the business charges interest on the customer's outstanding balance.

Continuous production process (question 65, OP)

Businesses with a steady demand for their standard products, such as toothpaste, often operate continuously. In most cases, the continuous production process is highly automated and operates steadily with assistance from only a few employees

Competitive bidding process (question 67, OP)

By using a competitive bidding process, businesses can obtain lower prices from vendors, thereby decreasing their overall product costs. Competitive bidding occurs between businesses so that businesses obtain better services as well as better products/materials/components. The process should encourage as many vendors as possible to attempt to get a contract rather than limiting the number of vendors to pick from.

One of the benefits of setting goals that will help you in your relationships with others is that setting goals A. helps you stay on task. B. gives you a way to measure your progress. C. helps you understand yourself. D. raises your level of self-esteem. (question 71, PD)

C Helps you understand yourself. Goal setting helps you understand yourself, and understanding yourself helps you understand other people. Goal setting helps you stay on task, raises your level of self-esteem, and gives you a way to measure your progress, but these benefits do not necessarily help you in your relationships.

Touchpoints (question 81, PM)

Touchpoints are all the opportunities that businesses have to connect with customers and reinforce their brand values. Any chance a business gets to interact with customers is a touchpoint; this includes products, packaging, employee interactions, websites, advertisements, social media interactions, and much more.

Transcribing Information (question 44, IM)

Transcribing involves taking the coded information and entering it into the appropriate computer fields so that businesspeople can analyze and review information. Researchers discard incomplete information before entering it into the computer.

Trading-up Product-Mix (question 76, PM)

When a company decides to add a higher priced product or line to its mix, it is using a trading-up strategy

Brand insitence (question 87, PM)

When consumers are in the brand insistence stage, they will not buy a substitute brand.

Arbitration (question 84, PM)

When two parties engage in a dispute that they are unlikely to resolve on their own, an impartial third party may step in. The impartial third party, called an arbitrator, hears both sides' arguments, studies the facts of the case, and then determines a remedy for the situation.

When filing a tort against a business, the plaintiff must establish that the defendant A. violated the doctrine of sovereign immunity. B. damaged property intentionally. C. conspired with a competitor. D. breached the duty of care. (question 5, BL)

D Breached the duty of care. The duty of care is the basic principle that expects all individuals and businesses to exhibit socially responsible behavior by using caution to prevent harm and by watching out for one another. A tort is a private wrongdoing that potentially harms another person or entity. If a business or one of its employees breaches the duty of care, the business may be held liable for the tort. However, the plaintiff must have grounds or proof that establishes that the business or its employee (defendant) has committed a wrongful act, thereby breaching the duty of care. Intentional damage and conspiring with a competitor (collusion) are types of torts. The doctrine of sovereign immunity is the universally accepted principle that each nation has the right to manage its own government and develop its own laws.

Superior Office Company received a state contract to supply office equipment to all public schools in the area. What does the company need in order to effectively produce the contract? A. Products B. Outputs C. Supplies D. Inputs (question 69, OP)

D Inputs. Inputs are all of the economic resources used in producing goods and services. Inputs are human, natural, and capital resources. In order to produce the contract, Superior Office needs workers, equipment to sell, and the means to deliver the product to the schools. Supplies are industrial goods used in the operation of a business. Outputs are the goods and services produced as the result of combining inputs. Products are goods and services.

To protect the integrity of the marketing information they gather, businesses should avoid A. working with a publisher. B. paying for the data. C. surveying a lot of people. D. manipulating the research. (question 43, IM)

D Manipulating the research. Businesses can protect the integrity of the marketing information they collect by interpreting the research correctly and not manipulating it in such a way that it agrees with a predetermined conclusion. Protecting the integrity of marketing information is sometimes difficult because businesses often can make the research support either side of an issue depending on how they interpret it. Most businesses try to interpret the research correctly because consumers are sometimes suspicious of research findings that seem to support the opinions of the business that sponsors the research.

Which of the following should you do when preparing your letter of application: A. Proofread quickly so you can send the letter sooner. B. Write a letter that is at least one page long. C. Repeat everything that is on your résumé. D. Mention any mutual contacts you have. (question 73, PD)

D Mention any mutual contacts you have. If you can, you should name someone you and the reader of your application letter both know. Of course, this isn't always possible, but it's a great way to get attention. Your letter should not be more than a page long. You shouldn't repeat everything that's on your résumé; your letter of application is intended to tell the reader things that aren't necessarily on the résumé. You should always proofread carefully, not quickly. Your letter of application is often the first impression a company gets of you, so you want it to be perfect.

Each pay period, Kendra has her employer automatically deposit her paycheck into her checking account so the funds are available for use when she needs them. In this situation, money is functioning as a(n) A. form of cash. B. unit of measure. C. medium of exchange. D. store of value. (question 36, EN)

D Store of value. Money functions as a store of value when it is saved rather than spent. The money can be held over time, and it retains value for future purchasing power. Money serves as a unit of measure when it is used to express the value or worth of something. Money serves as a medium of exchange when it is used to obtain goods and services. Cash is a form of money—currency and coins. Because Kendra's paycheck was automatically deposited in her bank account, currency and coins have not been touched.

Josh is a small business owner who hires a lawyer to represent him in court. In this situation, Josh is the A. representative. B. agent. C. judge. D. principal. (question 2, BL)

D Principal. In this situation, Josh is the principal, while his lawyer is the agent. In an agency relationship, the agent has the authority to act on behalf of the principal. Josh is not a judge or a representative.

Which of the following is a primary dimension of diversity: A. Income level B. Language C. Family status D. Age (question 22, EI)

D. Age. Primary dimensions of diversity are those inborn differences that cannot be changed and affect a person's entire life. They include such characteristics as age, gender, race/ethnicity, nationality, physical traits, and abilities (both mental and physical). L

Rashid's business always puts the customer first. All of the company's decisions are made to satisfy customer wants and needs. Rashid's company is using the __________ concept. A. relative B. utility C. customer D. marketing (question 15, EC)

D. Marketing. The marketing concept is a philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying consumer wants and needs while achieving company goals. While utility and the marketing concept go hand-in-hand, the utility concept is not a term commonly used to refer to the marketing concept. The marketing concept is also not typically referred to as the customer concept or the relative concept.

Deceptive Pricing (question 96, SE)

Deceptive pricing involves advertising a product for a certain price and then selling it for a more expensive price.

Product depth (question 85, PM)

Depth refers to the quantity of goods offered in the product line.

Direct Distribution (question 3, CM)

Direct distribution, on the other hand, is a channel of distribution in which goods and services move directly from the producer to the consumer or industrial user.

Discount Business (question 17, EC)

Discount businesses sell products at reduced prices and usually carry a variety of items.

Dry Testing (question 96, SE)

Dry testing a product refers to "testing out" the desirability of a certain product by advertising for it before it has actually been produced.

Editing (question 11, CO)

During the editing stage of the writing process, you give your words and sentences a close look and correct any grammar, punctuation, and spelling mistakes.

Estate Tax (question 17, EC)

Estate tax is collected on inheritances.

Ethnocentrism (question 23, EI)

Ethnocentrism is the belief that your own culture is naturally better than other cultures.

Excise Tax (question 17, EC)

Excise tax is collected on specific commodities like tobacco, gambling, gasoline, etc.

Excise Taxes (question 18, EC)

Excise taxes are built into the purchase price of products.

Exclusive Dealing (question 5, CM)

Exclusive dealing occurs when one business forbids another channel member from buying a competitor's products.

Expansion Product-Mix (question 76, PM)

Expansion occurs when a business expands its product mix by adding additional product items or lines

A salesperson promising to repair or replace a product if it doesn't work properly during a period of time is an example of a(n) A. express warranty. B. implied warranty. C. money-back guarantee. D. unconditional guarantee. (question 80, PM)

Express warranty. An express warranty is a warranty that is written or expressed verbally. It may be an oral promise given by the salesperson to a customer. A salesperson promising to repair or replace a product if it doesn't work properly during a period of time is an example of an express warranty. Then, the business must fulfill the promise to the customers. An implied warranty is an unwritten warranty understood by the consumer and the seller that the product will perform as expected. A money-back guarantee is a promise to refund the consumer's purchase price if the product does not perform as expected

Financial Analysis (question 15, EC)

Financial analysis is the process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources.

Flextime (question 23, EI)

Flextime is a scheduling procedure in which employees select their own working hours as long as they work the required number of hours

Frictional unemployment (question 20, EC)

Frictional unemployment describes people who are temporarily between jobs due to layoffs, resignations, or educational pursuits. These people often have the skills and training they need to work but are unemployed.

FRUGGING (question 35, IM)

Fundraising under the guise of research is known as FRUGGING and occurs when an organization tries to obtain donations by claiming to collect market research.

How can you determine how foo products can be used (question 83, PM)

Grades are ratings assigned to certain products. The U.S. Department of Agriculture has identified different grades for about 300 food products. These grades determine how the products can be used. Some lower grades indicate that the foods must be used as ingredients in other food products rather than for straight human consumption.

High-Context Culture (question 18, EC)

High-context cultures are those that rely heavily on nonverbal communication to get messages across.

House of Quality Matrix (question 70, OP)

House of quality matrix is a quality-control tool that helps managers to determine if a product meets customer needs or not.

Sole Proprietorship (question 2, BL)

In a sole proprietorship, the owner generally assumes all of the risk.

Indirect Distribution (question 3, CM)

Indirect distribution is a channel of distribution in which goods and services move from the producer to intermediaries and then to consumers or industrial users. In other words, companies use "middlemen" to get their products into as many hands as possible while minimizing overall risks and expenses.

Information Management (question 15, EC)

Information management is the process of accessing, processing, maintaining, evaluating, and disseminating business knowledge, facts, or data.

Installment Credit Account (question 31, FI)

Installment credit is a type of credit account set up to handle one total amount of credit that the borrower pays in regular installments until the item is paid off. Installment credit is often used when purchasing expensive items such as cars and furniture.

Intermediate production process (question 65, OP)

Intermittent production starts and stops frequently and produces only when there is a need to increase stock levels.

Why will it benefit you to learn as much as possible about a prospective employer before you go for a job interview? A. It ensures that you'll be considered for the job. B. It shows that you do a lot of reading. C. It prepares you to ask good questions. D. It gives you something to discuss during the interview. (question 73, PD)

It prepares you to ask good questions. As a job applicant, you should find out as much as possible about the business before a job interview so that you are prepared to ask intelligent questions about the company.

Labor-intensive production process (question 65, OP)

Labor-intensive production processes rely more on people than on machines.

Lean production (question 70, OP)

Lean production focuses on maximizing customer value while minimizing waste.

Limited-Line Service (question 17, EC)

Limited-line businesses specialize in the products that they offer for sale. They usually carry an excellent assortment of those goods.

Low-Context Culture (question 18, EC)

Low-context cultures are those that rely more on verbal communication.

Material requirements planning (MRP) (question 55, OP)

Material requirements planning (MRP) is a production planning and inventory control system.

Memorandum (question 12, CO)

Memorandums are a frequently used form of brief, written communication exchanged by people within an organization. Memorandums are rarely used among competitors or between friends.

What is one way you can prevent identity theft? A. Only give out personal information when the other person initiated the contact. B. Memorize your social security number, and keep your card at home. C. Throw away all credit card statements, receipts, and credit offers. D. Only give out personal information to someone who says s/he works for a legitimate company. (question 33, FI)

Memorize your social security number, and keep your card at home. You should avoid keeping your social security card in your wallet or purse. Instead, leave the card at home or somewhere safe, and memorize your social security number. You should never give out personal information when the other person initiated the contact—instead, you should only give out information when you initiated the contact yourself. You should credit card statements, receipts, and credit offers shred them. Many thieves practice dumpster diving to find documents with bank account or credit card numbers. You shouldn't give out information to someone who says s/he works for a legitimate company, as that person could easily be lying to you. In fact, this is a common phishing scheme.

Neutral Culture (question 18, EC)

Neutral cultures keep emotions controlled and subdued.

Payroll Taxes (question 18, EC)

Payroll taxes are the taxes associated with being employed as well as being an employer. Employers must withhold certain taxes from their employees' paychecks. They are not referred to as career or professional taxes. Excise taxes are built into the purchase price

Point-of-Sale Promotion (question 88, PR)

Point-ofsale promotions are promotions located where the customer purchases a good or service, such as in a store.

Predatory Pricing (question 77, PI)

Predatory pricing is the practice of pricing goods extremely low with the goal of driving the competition out of business.

Price fixing (question 77, PI)

Price fixing is an illegal agreement in which businesses agree on prices of their goods or services, resulting in little choice for customers.

Primary Dimensions of Diversity (question 23, EI)

Primary dimensions are those inborn differences that cannot be changed and affect a person's entire life.

Primary divisions of diversity (question 22, EI)

Primary dimensions of diversity are those inborn differences that cannot be changed and affect a person's entire life. They include such characteristics as age, gender, race/ethnicity, nationality, physical traits, and abilities (both mental and physical). L

Product classification (question 85, PM)

Product classification refers to the type of product, whether consumer or industrial.

Product development (question 86, PM)

Product development is the stage in the creation of a new product in which a working model may be tested, modified, and retested, and production costs are estimated and final details of the product are planned.

Product management (question 86, PM)

Product management involves monitoring and developing one or more existing products.

Product Positioning (question 86 PM)

Product positioning is the consumer's image or impression of a product as compared to that of competitive products. One of the goals of product positioning is to make sure that consumers perceive a product in the way that the business intended. This involves communicating information about the product's attributes and characteristics so customers will have a clear perception of its image.

Product Screening (question 86, PM)

Product screening is the process of considering each idea for a new product and discarding those that seem unworkable.

Production Capacity (question 96, SE)

Production capacity is an internal factor. It comes from inside the business itself, and the business has a measure of control over it.

Property Tax (question 17, EC)

Property tax includes tax spent on real estate. Because the company owns real estate (the warehouse), it must pay property tax

Some people argue that planned obsolescence directly benefits customers by A. eliminating the need to make their own product purchasing decisions. B. improving the economy through an increased number of purchases. C. providing them with improved products that make their lives easier. D. reducing the amount of stress involved with choosing a product to buy. (question 78, PM)

Providing them with improved products that make their lives easier. Supporters of planned obsolescence argue that the practice can benefit customers by providing them with new and improved versions of products that make their lives easier. Supporters of planned obsolescence do not argue that the practice directly benefits customers by improving the economy, eliminating their need to make their own product purchasing decisions, or reducing the amount of stress involved with choosing a product to buy.

Queries (question 53, NF)

Queries allow you to retrieve specific data and view it in one datasheet. This is helpful if you need to view certain data that are spread out throughout your database. Queries do not close the database, create a new row in a table, or input new information into the database

Referral Selling (question 96, SE)

Referral selling typically involves offering incentives or prizes to customers in exchange for providing the names of other potential customers to the company (receiving the incentive is usually contingent on the other customer making a purchase).

Which of the following is a corrective action you could take if your project has derailed: A. Project failure B. Risk tracking C. Refocusing scope D. Stakeholder management (question 61, OP)

Refocusing scope. Once you've identified areas where you need improvement, you will have to take corrective actions to get your project back on track. An example is refocusing the scope of your project. Project failure, risk tracking, and stakeholder management are not types of corrective actions to take if your project has derailed.

Regulatory Capacity (question 96, SE)

Regulatory factors are laws and guidelines put in place by government entities.

When trying to persuade others, it is often helpful to use stories and anecdotes because they A. exaggerate the benefits. B. make people feel comfortable. C. add energy to your explanation. D. reinforce your message. (question 32, EI)

Reinforce your message. Use stories and anecdotes to reinforce your message with word pictures and examples that others can understand easily. If you can paint a picture in people's minds, they will be able to understand your ideas. Also, stories are interesting and easy to remember. People are often able to relate to them on a personal level. The use of appropriate body language often makes people feel comfortable. Use your voice to add energy to your explanation. You should not exaggerate the benefits.

Rational Database (question 48, IM)

Relational databases allow businesses to examine the relationships between many variables at one time. In relational databases, information is set up in tables with rows and columns. The rows represent a category and the columns represent the variables. For example, a business could develop a relational database with a row for each of its salespeople and columns across for sales by month. The business then would be able to examine the relationship between each salesperson's sales according to month and make comparisons between salespeople.

Retail Price (question 77, PI)

Retail price maintenance involves producers pressuring retailers to sell goods at the suggested retail price, which is unethical and, in some jurisdictions, an illegal practice.

Express Warranty (question 74, PM)

Salesperson makes a promise—either verbally or in writing—that the company will repair or replace a defective product,they are making an express warranty.

Secondary Dimensions of Diversity (question 23, EI)

Secondary dimensions of diversity are those characteristics that may change at various points throughout one's lifetime. They include such characteristics as religion, work experience, education level, income level, language, and family status.

SNUGGING (question 35, IM)

Selling under the guise of research (SUGGING) occurs when organizations administer surveys to gain customers or make sales, not to conduct market research. This practice is generally frowned upon because it is deceptive and it may make consumers skeptical of actual market research.

Service Business (question 17, EC)

Service businesses perform intangible activities that satisfy the wants of consumers or industrial users.

Service Credit Account (question 31, FI)

Service credit is credit used for utilities that have been consumed but not paid for (e.g., water and electricity).

Smoothing (question 5, CM)

Smoothing is a practice that involves offering consumers a discount for purchasing products that otherwise would go to waste.

Specialty Business (question 17, EC)

Specialty businesses typically carry a very limited variety of products.

Structural Unemployment (question 20, EC)

Structural unemployment results when people do not have the job skills for jobs that currently exist. Because technology has evolved at a rapid rate over the past several decades, many jobs that were once performed manually or with minimal training have been replaced with automated systems or with jobs requiring special skills.

Definition of a Tariff (question 2, BL)

Tariffs are taxes on imported goods. When an imported product enters a country that requires a tariff, the merchant will pay a certain percentage of the product's value directly to the government.

Technological Unemployment (question 19, EC)

Technological unemployment happens when technological advances eliminate certain job positions.

Fiduciary Relationship (question 2, BL)

The agent who shows that s/he is loyal, trustworthy, and acting in the best interest of his/her client (principal) is fostering a fiduciary relationship.

Why is repetition important in advertising? (question 82, PR)

The communication conveyed in promotions should be repeated over and over. Many customers would not remember the message if they heard it only once. Even the most memorable messages need to be repeated. Repetitive messages create sustained interest in products or ideas.

Major purpose of promotion (question 88, PR)

The major purpose of using promotion for most businesses is to increase their sales. Promotion helps to do this by informing, reminding, and persuading customers.

Producer (question 3, CM)

The producer can concentrate on production and pass other responsibilities on to the agent.

Ambiguity (question 27, EI)

The quality of being open to more than one interpretation; inexactness.

Retailer (question 3, CM)

The retailers then sell the goods to the end users or ultimate consumers.

What is an enclosure at the bottom on an email? (question 11, CO)

The word "Enclosure" at the bottom of the page indicates that other material accompanies the letter.